NASDAQ · Financial Statements

indie Semiconductor, Inc. (INDI) Financial Statements

$1.63 NASDAQ: INDI Market Cap $355.22M

indie Semiconductor, Inc. most recently reported annual revenue of $217.0M, a net loss of $144.0M. Revenue grew at an average annual rate of 56.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

indie Semiconductor, Inc.: Revenue rose from $29.0M in 2018 to $217.0M in 2025, a change of +648.3% over 7 years; net profit was positive in 0 of 8 reported years; operating margin moved from -29.5% to -66.3%, a shift of -36.8 percentage points; the most recent year shows a net loss of $144.0M.

Income Statement — 8 Years (USD millions)

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$29.0M	$23.0M	$23.0M	$48.0M	$111.0M	$223.0M	$217.0M	$217.0M
Operating Expenses	$37.0M	$42.0M	$42.0M	$123.0M	$230.0M	$359.0M	$387.0M	$362.0M
Operating Profit	$-8.0M	$-19.0M	$-19.0M	$-75.0M	$-119.0M	$-135.0M	$-170.0M	$-144.0M
Operating Margin	-29.5%	-83.3%	-85.1%	-154.5%	-107.5%	-60.7%	-78.5%	-66.3%
Other Income	$-2.0M	$-2.0M	$-79.0M	$-44.0M	$65.0M	$2.0M	$24.0M	$-10.0M
Interest	$0	$0	$2.0M	$1.0M	$2.0M	$9.0M	$9.0M	$18.0M
Depreciation	$2.0M	$4.0M	$3.0M	$6.0M	$17.0M	$32.0M	$43.0M	$35.0M
Profit Before Tax	$-11.0M	$-21.0M	$-98.0M	$-119.0M	$-54.0M	$-133.0M	$-146.0M	$-155.0M
Tax	$-30,000	$-50,000	$-30,000	$270,000	$1.9M	$3.4M	$1.3M	$1.9M
Net Profit	$-10.0M	$-20.0M	$-97.0M	$-88.0M	$-43.0M	$-118.0M	$-133.0M	$-144.0M
EPS	$-0.10	$-0.18	$-0.78	$-1.26	$-0.37	$-0.81	$-0.76	$-0.72
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$60.0M	$70.0M	$52.0M	$52.0M	$54.0M	$58.0M	$54.0M	$52.0M	$54.0M	$58.0M	$55.0M	$64.0M
Operating Expenses	$97.0M	$92.0M	$102.0M	$89.0M	$104.0M	$92.0M	$93.0M	$95.0M	$92.0M	$91.0M	$94.0M	$99.0M
Operating Profit	$-36.0M	$-22.0M	$-50.0M	$-37.0M	$-50.0M	$-34.0M	$-39.0M	$-43.0M	$-38.0M	$-33.0M	$-39.0M	$-35.0M
Operating Margin	-59.8%	-30.8%	-94.8%	-70.0%	-92.5%	-58.4%	-72.0%	-83.3%	-71.4%	-56.2%	-70.1%	-54.8%
Interest	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$3.0M	$5.0M	$5.0M	$4.0M	$4.0M	$4.0M	$5.0M
Profit Before Tax	$-18.0M	$-16.0M	$-35.0M	$-21.0M	$-55.0M	$-35.0M	$-37.0M	$-41.0M	$-41.0M	$-35.0M	$-47.0M	$-39.0M
Tax	$-3.6M	$11.1M	$3.1M	$-410,000	$570,000	$1.7M	$-150,000	$-1.4M	$880,000	$9.2M	$670,000	$1.1M
Net Profit	$-17.0M	$-15.0M	$-31.0M	$-19.0M	$-50.0M	$-33.0M	$-35.0M	$-39.0M	$-38.0M	$-32.0M	$-43.0M	$-37.0M
EPS	$-0.12	$-0.09	$-0.19	$-0.11	$-0.28	$-0.18	$-0.18	$-0.20	$-0.19	$-0.16	$-0.22	$-0.17

Over the 8 years reported for indie Semiconductor, Inc., borrowings increased from $20.0M in 2018 to $379.0M in 2025, cash stood at $156.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 3.67 times.

Balance Sheet — 8 Years (USD millions)

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$42.0M	$348.0M	$35.0M	$469.0M	$603.0M	$819.0M	$941.0M	$841.0M
Current Assets	$34.0M	$1.0M	$30.0M	$248.0M	$374.0M	$272.0M	$409.0M	$286.0M
Cash	$24.0M	$0	$19.0M	$219.0M	$322.0M	$152.0M	$274.0M	$156.0M
Inventory	$5.0M	$4.0M	$3.0M	$9.0M	$13.0M	$33.0M	$50.0M	$49.0M
Receivables	$5.0M	$5.0M	$6.0M	$14.0M	$26.0M	$72.0M	$52.0M	$57.0M
Fixed Assets	$2.0M	$2.0M	$2.0M	$11.0M	$28.0M	$41.0M	$50.0M	$58.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$347.0M	$0	$0	$0	$0	$0	$0
Other Assets	$0	$0	$2.0M	$114.0M	$136.0M	$295.0M	$266.0M	$293.0M
Total Liabilities	$29.0M	$36.0M	$137.0M	$177.0M	$289.0M	$342.0M	$496.0M	$458.0M
Current Liabilities	$8.0M	$23.0M	$122.0M	$34.0M	$64.0M	$139.0M	$85.0M	$78.0M
Borrowings	$20.0M	$19.0M	$21.0M	$8.0M	$183.0M	$174.0M	$399.0M	$379.0M
Other Liabilities	$9.0M	$17.0M	$116.0M	$170.0M	$106.0M	$168.0M	$97.0M	$79.0M
Equity	$41.0M	$347.0M	$0	$0	$0	$0	$0	$0
Reserves	$11.0M	$313.0M	$-110.0M	$313.0M	$313.0M	$446.0M	$418.0M	$357.0M

For indie Semiconductor, Inc., operating cash flow was positive in 0 of 8 reported years; free cash flow in the latest year was negative at $71.0M; free cash flow was positive in 0 of 8 years; financing activities used $11.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 8 Years (USD millions)

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$-15.0M	$-15.0M	$-21.0M	$-56.0M	$-77.0M	$-104.0M	$-59.0M	$-57.0M
Investing Cash Flow	$-3.0M	$-4.0M	$-2.0M	$-88.0M	$-24.0M	$-120.0M	$-34.0M	$-46.0M
Financing Cash Flow	$28.0M	$2.0M	$6.0M	$352.0M	$-25.0M	$-10.0M	$-33.0M	$-11.0M
Net Cash Flow	$22.0M	$-17.0M	$12.0M	$201.0M	$102.0M	$-170.0M	$133.0M	$-129.0M
Free Cash Flow	$-16.0M	$-17.0M	$-22.0M	$-60.0M	$-84.0M	$-117.0M	$-73.0M	$-71.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	-0.35
EV / EBITDA	-8.54
FCF Yield	-13.34%
Quick Ratio	2.86
Interest Coverage	-8.22
Return 1Y	-19.47%
Return 3Y	-59.47%
Return 5Y	-53.04%

indie Semiconductor, Inc. (INDI) financials — frequently asked questions

What is indie Semiconductor, Inc.'s annual revenue?

indie Semiconductor, Inc. (INDI) reported annual revenue of $217.0M in its most recent fiscal year.

What is indie Semiconductor, Inc.'s net profit?

indie Semiconductor, Inc. (INDI) reported a net loss of $144.0M in its most recent fiscal year.

What is INDI EV/EBITDA?

indie Semiconductor, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -8.54. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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